Slow Ventures’ Creator Fund has invested $2 million in Jonathan Katz Moses, a popular woodworking content creator with nearly 600,000 followers, nearly 75 million video views, and his own woodworking tools.
This is the first investment in Slow’s $60 million creator fund since its launch in February. This fund aims to support creators in starting their own businesses, with the belief that what makes creators successful as influencers also makes them great founders.
Billy Parks, partner at Slow Ventures and lead investor in the deal, told TechCrunch that the role of creators has changed significantly over the past decade or so, from creators primarily focused on media and brand funding to creators now focused on building genuine “off-platform” businesses.
“The pandemic has accelerated the growth of direct-to-consumer for many, but the real signal is among the companies that have sustained and grown through the boom, showing they can build something lasting and sustainable,” Parks said.
He said great creators and founders think like entrepreneurs and “build real businesses that they own and control, rather than chasing fame.”
This is where Katz-Moses comes into the picture. His videos helped teach woodworking, and he later began selling homemade tools and accessories to his viewers. He has a team that helps him with business development, operations, and of course, creating YouTube content. Slow’s investments help support your business and other content creation efforts.
Katz-Moses started his woodworking business after being assaulted one night in 2010. In a recent video posted on his channel, he detailed the incident, saying he gasped when he woke up in a pool of blood, surrounded by police and paramedics, covered in injuries. His injuries were serious, requiring 80 stitches for a fractured eye socket and a cut. He said it was the happiest moment of his life because at least he was alive.
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Shortly after, he decided it was time to follow his dreams and leave behind everything that didn’t fulfill him, so he went into woodworking. He bought a camera and began posting his work on YouTube, gaining a loyal following in the process. But as my business and personality grew, I found myself facing common challenges that founders face, like managing inventory for a tool business and paying yourself a salary.
Katz-Moses, one of 700 applicants to Slow’s Creator Fund, told TechCrunch that he was excited when Parks contacted him to learn more about his business.
“Billy Parks from Slow contacted me in March and wanted to meet with me,” Katz-Moses told TechCrunch.
“When we visited his 30,000 square foot store in Santa Barbara, we were struck by his serious and long-term commitment to the brand and to building a large business,” Parks told TechCrunch about why Slow chose Katz Moses.
Parks said Slow wants to partner with creators in their early stages to provide support at a time when their growth is most impactful. (Apart from this fund, we have already signed contracts with several creators.)
Slow’s Creator Fund is a showcase of how companies are increasing their investment in the creator economy and finding ways to collaborate with influencers to help creators become new business masters. (Other creators are turning to raising venture capital to support their careers or their colleagues.)
Parks said Slow wants to work with creators who operate in well-defined spaces rather than broad entertainment, and team up with creators who have a passionate community and authority in their craft. “This combination provides a business with strong fundamentals and sustained growth,” Parks continued. This is similar to how investors already vet founders.
Since the investment, Katz-Moses has hired product developers, filed patents, considered new products to build, and hopes to share more educational content about woodworking. “The goal is to post on all major platforms,” he said. “But our main focus will always be YouTube.”
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